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Small Businesses File for Bankruptcy at Record Pace, Surpassing COVID Crash

Banking Crisis: Bankruptcies at Smaller Companies Are at a Record High

Barclays, JPMorgan Pull Deals as Angst Freezes Junk-Debt Market

(Bloomberg) Global banks are growing wary of risky credits as turmoil envelops the industry, crushing the market for new leveraged finance deals just as it was beginning to regain its footing. Bank underwriters across the US and Europe are pulling sales and pausing future ones amid tepid demand. Barclays Plc recently shelved a pair of loans for Ineos Enterprises and Russell Investments, while JPMorgan Chase & Co. yanked a deal for Agiliti Health. “The primary loan market feels like a Scooby Doo ghost town recently deserted and a bit haunted,” said Scott Macklin, director of leveraged loans at AllianceBernstein. The sudden takeover of Credit Suisse Group AG and the failure of a trio of US regional lenders sparked renewed fears among investors who were already forecasting a recession. The timing could hardly be worse for Wall Street’s lucrative leveraged lending desks, which are still seeking to offload billions of dollars of risky corporate debt stuck on their books to institu

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